The Goal of this mini-project is for you to understand the three main concepts of contracts: Offer, Acceptance, and Consideration. In addition, you will learn how to negotiate a contract to get the best possible deal for yourself (or your client).
First...let's review...
1. What is an offer? An invitation to make a contract
2. What do we call the person who makes the offer? The offeror
3. What is acceptance? The agreement to participate in the contract
4. When is acceptance made? Not until there is a valid offer
5. What do we call the person who accepts the offer? The offeree
6. What is the main principle of consideration? Both sides have to give up something and get something
Listed below are some examples of contracts. Review the different types of contracts and then answer the questions that follow.
Examples: grocery store “club” card, free email user agreement, car purchasing, car insurance, sports
2. What is the offer, acceptance and consideration in each of these contracts?
3. Were these contracts negotiated?
4. Have any of them ever been in a contract that was negotiated?
Next...let's get introduced to the negotiation exercise.
This exercise will show how a lot of contracts are made – through the process of negotiation.
1. You have been assigned you to teams. In each team, there are both clients and attorneys.
2. Each side will be given a set of information about what they want in this contract. The attorney and the client must work together to get the best result for the client.
3. After I hand out the materials, you will have 15 minutes to confer with your side and make a strategy for going into the negotiation.
4. After 15 minutes, you will get with your opponents and negotiate the contract.
5. Keep your confidential information secret!!!
6. Once you've completed your negotiations, present the proposed contract to the teacher.
First...let's review...
- 1. What is an offer? An invitation to make a contract
- 2. What do we call the person who makes the offer? The offeror
- 3. What is acceptance? The agreement to participate in the contract
- 4. When is acceptance made? Not until there is a valid offer
- 5. What do we call the person who accepts the offer? The offeree
- 6. What is the main principle of consideration? Both sides have to give up something and get something
- Listed below are some examples of contracts. Review the different types of contracts and then answer the questions that follow.
- Examples: grocery store “club” card, free email user agreement, car purchasing, car insurance, sports
- 2. What is the offer, acceptance and consideration in each of these contracts?
- 3. Were these contracts negotiated?
- 4. Have any of them ever been in a contract that was negotiated?
Next...let's get introduced to the negotiation exercise.This exercise will show how a lot of contracts are made – through the process of negotiation.